Weaker risk sentiment pulls the AUD to its lowest levels since January
AUD/USD continues to move within the downward channel.
Evergreen buck consolidates in Asia
On Thursday, the evergreen buck consolidated in Asia having recovered from a brief spill overnight when financial markets were puzzled by mixed messages on policy from the US major financial institution.
Trading ranges turned out to be tight once again, with both China and Japan on holiday and also a bit in the way of key economic reports in the diary.
The major US currency had taken an initial knock from a shockingly steep rebound in the ISM index of manufacturing to about 52.8 that overshadowed a firm ADP report on hiring.
It headed south further when the major US bank had its inflation outlook downgraded and also made a technical cut to rates on excess reserves.
However, it changed when Fed Chair Jerome Powell told that the factors influencing inflation might be transitory and he didn’t see any case for a rate move in any direction.
The net outcome was a rebound in the USD index versus a group of currencies, leaving it at 97.606 in contrast with Wednesday’s minimum of 97.149.
The common currency showed $1.1207, having hit $1.1265 overnight. Meanwhile, the evergreen buck stabilized at 111.54 yen from a minimum of 111.03.
As for bonds, they see-sawed with the two-year gain first decreasing to a one-month dip of 2.206%, concluding Wednesday’s trading marathon just 4 basis points higher reaching 2.31%.
The UK pound happened to be one of the few currencies to buck the evergreen buck, hitting a two-week maximum on Wednesday on rumors that Brexit negotiations between the UK cabinet and the key opposition party were demonstrating some progress.
Eventually, the UK currency was last at $1.3054, having hit $1.3101 overnight.
Similar
Evergreen buck goes up
On Wednesday, the evergreen buck jumped, backed by comments from senior Fed officials playing down the probability of interest rate cuts, and also by a fresh round of safe-haven buying on geopolitical tensions…
Chinese Yuan is intact
On Wednesday, the Chinese yuan and the evergreen buck were nearly intact in Asia because market participants waited for further news on the China-US trade front…
Latest news
Weekly CryptoNews
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
Most Asian stocks post strong revenues with Nikkei rising more than 2%
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan real wages surge is slowest in almost two years
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
Deposit with your local payment systems
